Nov 21, 2012 5:30pm PST
-- and streamline both the pentagon and the federal bureaucracy. medicare and social security over time would reduce benefits give on the higher income families. your big message here is social security and medicare have to be on the table. there's no choice. >> i think most people understand that medicare has to be part of the deal. and most people believe today that you ought to do social security on a parallel track. >> reporter: both men blame the death of their report on lobbyists and warn that special interests are lined up again to fend off the budget cuts coming their way. >> everybody is just like my mama. they are. >> reporter: just like what, sir? >> like my mama. she turns to me, and she says, "your daddy would be proud of you, you're putting our fiscal house in order, you have to stay at it, but don't mess with my medicare." >> reporter: bowles/simpson went nowhere two years ago, but its essential ideas are back in play. and the basic tax reform it called for-- once politically impossible-- is being embraced by both parties today. wyatt andrews, cbs news, washington. >> glor: the c.e.o.